An information technology company, LiveTiles Limited (ASX:LVT) revealed another solid quarter of annualised recurring revenue (ARR) growth.
As at 31 March 2020, ARR reached to $55.2 million, up from $52.7 million reported on 31 December 2019. LiveTiles disclosed that in the last year its ARR has grown by 60% and is up to 4.9x in two years.
The total customer cash receipts rose by 109% on the prior corresponding period (pcp) to $10.9 million.
Notably, the Company reconfirms it has no necessity to raise further capital to fund operating cash burn.
Post announcement, the shares of LVT rose by 7.143% to $0.225, on 29 April 2020 (at AEST 11:52 PM).